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Twitter and eToro collaborate to offer users expanded cryptocurrency and stock trading through cashtags

Social media giant Twitter has announced a new partnership with fintech firm eToro, which will allow users to buy and sell cryptocurrencies and stocks through the platform. The new feature, set to launch on Thursday, will expand on Twitter’s existing “cashtags” feature, which allows users to search for a ticker symbol and view real-time trading data from TradingView on index funds and shares of some companies such as Tesla. The eToro partnership will enable users to access a broader range of financial instruments and asset classes, according to CNBC.

eToro, founded in Israel in 2007, is an online brokerage platform that enables users to buy and sell stocks, cryptocurrencies, and index funds. The company’s most popular feature is a function that allows users to mimic the trading strategies of other users. With over 32 million registered users across Europe, Asia, and the United States, eToro CEO Yoni Assia believes the partnership with Twitter will enable the company to reach new audiences and connect better with the brands of both companies.

The partnership with eToro marks a rare business deal for Twitter since CEO Elon Musk took over the platform last year. Musk has made it his mission to turn Twitter into a “super app” offering users a range of services, including instant messaging, banking, and travel. The company recently changed its corporate name to X Corp after merging with a shell company of the same name, highlighting Musk’s ambition to turn Twitter into a super app.

Twitter’s “Fintwit” community, where users discuss and share breaking news and updates on stocks and other assets, has become increasingly popular, with the number of searches for cashtags averaging about 4.7 million per day since the start of 2023. Musk has stated his desire to turn Twitter into the biggest financial institution in the world, and the eToro partnership is a significant step towards achieving this goal.

The partnership with eToro will expand Twitter’s reach in the financial world, and the platform will now offer a broader range of financial services to its users. It will be interesting to see how Twitter continues to develop as it aims to become a super app and the biggest financial institution in the world, and how the eToro partnership will evolve in the coming months.

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